It seems getting a great education and working with a top firm at an incredible salary is no longer enough for students of the Indian Institute of Management here. Setting up their own business and being their own boss is what most of them are hankering after now.
After half-a-dozen IIM-A students spurned job offers from top MNCs earlier this year, four more have chosen to become entrepreneurs, saying no to pre-placement jobs. They will soon set up their own venture — designing, branding and retailing women's innerwear.
They are so kicked about their business plans that Vineeta Singh and Devashish Chakravarty had no qualms saying no to Rs 90 lakh per annum jobs with the Deutsche Bank, with posting options in London, New York or Singapore. Bhusan Davir and Vishal Prabhukhanolkar too had job offers with hefty pay packets.
The idea for the venture came from a project the four worked on. The project won the ‘Business Plan Competition’ at the ‘Confluence’, the annual B-schools meet. Based on a market research that innerwear fittings for Indian women leave a lot to be desired, they discovered that there is a vast market for comfortable ‘Indian ethnic fit’. The four students, who will be passing out in the summer of 2007, are currently negotiating with some financial institutions for start-up capital. Their innerwear brand, tentatively named 'Caress', is expected to begin with a daily production of 1,000 pieces, said Devashish.
Teen twins spin fantasy
New Delhi: At a time when Harry Potter rules the roost, a new novel by 18-year-old twins of Indian origin is giving fantasy fans something to talk about. Conspiracy of Calapsia by Jyoti and Suresh Guptara was released a few weeks ago in Switzerland. According to their publisher, the novel has generated so much interest that the Italian rights have been sold while negotiations for the German rights are underway. There is also talk of selling the film rights to a Hollywood studio, though Jyoti says they would be happier if a Bollywod director made the movie.
So, how did they get to writing? “Initially, we went about writing fantasy stories. It was later that we started exploring the idea of reaching out to a wider audience,” says Suresh. The twins are not very forthcoming about what influences and inspires them: “We have read a lot, but we have been influenced by any particular author. However, we rate JRR Tolkien very highly.”